Business
Rubicon Organics Reports 2024 Financial Results
Highlights for the fourth quarter ended December 31, 2024 and subsequent events: Record h...
About this update from Rubicon Organics, Inc.
[{"type":"text","content":"Rubicon Organics Reports 2024 Financial Results\n\n\n\n\n Highlights for the fourth quarter ended December 31, 2024 and subsequent events:\n \n\n\n\n Record high net revenue of $14.2 million, an increase of 42% from Q4 2023\n \n\n Achieved Adjusted EBITDA\n \n 1\n \n of $1.6 million (including $0.25 million of one-time ERP costs)\n \n\n Achieved positive operating cashflows of $2.3 million and Free Cash Flows\n \n 2\n \n of $1.8 million\n \n\n Secured $10 million credit facilities at interest rate of 6.75% for 5 years\n \n\n Entered into purchase and sale agreement for Hope, BC facility, expanding capacity of premium flower by 40%\n \n 3\n \n\n\n Secured key international certification and delivered first international shipment\n \n\n\n\n Highlights for the year ended December 31, 2024:\n \n\n\n\n Record high net revenue of $48.7 million, an increase of 21% from 2023\n \n\n Adjusted EBITDA\n \n 1\n \n of $4.0 million (including $0.9 million of one-time ERP costs)\n \n\n Operating cash flow of $3.4 million\n \n\n\n\n VANCOUVER, British Columbia, April 01, 2025 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company is Canada’s leading premium licensed producer focused on cultivating and selling organic certified, premium and super-premium cannabis products, today reported its financial results for the year ended December 31, 2024 (“Q4 2024”). All amounts are expressed in Canadian dollars.\n \n\n \"2024 marked another record year for Rubicon Organics growing 21% year-over-year, dramatically outpacing market growth. Our vape launch, the fastest and widest in our company history, underscores the strength of our industry leading premium brands and our ability to drive growth through reputation and high-quality innovation.\" said Margaret Brodie, CEO.\n \n\n Ms. Brodie added, \"Shifting market dynamics are driving a supply shortage in Canada, creating significant opportunities for established operators. At the same time, international markets are increasingly opening up to top Canadian producers. We are excited to accelerate our expansion strategy and meet the growing demand for our premium brands both at home and abroad.\"\n \n\n \"We successfully navigated early 2024 challenges, delivering a strong rebound in the second half,\" said Janis Ris...